Pune, 17May2018: 99acres.com Insite is a quarterly report focusing on capital and rental price trends in the residential realty market across eight major cities of India. According to the report, property prices per sqft in Pune remained unaltered,QoQ. The rental market recorded a modest increase in ‘asks’, in the firstquarter of 2018, as compared to Jan-Mar 2017. New launches remained restricted and the presence of a strong regulatory authority under MahaRERAcould do little to improve sales volume.
Commenting on the report,Maneesh Upadhyaya, Chief Business Officer, 99acres.comsaid, “Pune’s price-sensitive marked maintained status-quo in terms of capital ‘asks’ and sale velocity with the last quarter. Affordable and mid-income segments ruled the roost and together accounted for more than three-fourth of the city’s overall demand. Despite the presence of a strong regulatory authority (MahaRera) and developers complying with Goods and Services Tax (GST) norms, potential homebuyers were seen opting for ready inventory against under-construction in order to avoid GST. The latter segment, however, witnessed a marginal increment in popularity against the last quarter of 2017. Developers’ constant focus on improving sales velocity is expected to keep property prices under check in the ensuing quarters.”
Price movement in key micro-markets
* Average ‘ask’ rates have been calculated as per listings posted on 99acres.com in the current quarter
Price Trend Analysis of Pune (Jan-Mar 2018 vs. Oct-Dec 2017):
Rental Trend Analysis of Pune (Jan-Mar 2018 vs. Jan-Mar 2017):
Demand-Supply Analysis of Pune (Jan-Mar 2018 vs. Oct-Dec 2017):
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